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Budget News Hurts Shares

Updated Jan. 14, 1998 5:57 p.m. ET

MEXICO CITY -- Stocks slid during the last leg of Wednesday's session, closing lower after Finance Minister Jose Angel Gurria announced the 1998 government spending program will be reduced because of the fall in international oil prices.

Stock prices recovered slightly at the very end on some bargain-hunting and position-juggling, but were unable...